I’ve had this discussion with almost every potential seller this year so far… what it takes to get a sale, versus simply being “on the market”. The South Florida Sun-Sentinel puts it in easy to understand terms in their article today, “Selling your home means being realistic in a down market”. [...]

What lessons have we learned in 2006 and 2007 about marketing a home for sale?

One very important one is that in a declining market, just like shooting ducks in an arcade, we have to lead the target.

The mortgage crunch means buyers and sellers need to be more aware of who is funding their loan and whether the loan programs have changed since the application. It’s easy for lender problems to affect closings.

Low buyer traffic has been the number one issue since the start of summer here in South Florida. Whether buyers are being shy because of hurricanes, the uncertainty of future prices, or because they simply have too much to choose from, sellers are not happy.

If you’ve been living in the same home for five years, you’ve likely built up significant equity as home prices in South Florida have more than doubled during the period.

But how do you know what your home is really “worth”? How do you measure value?

One of my tips for sellers (in a buyer’s market) is to “price right”. What do I mean by this simple phrase? And why is pricing according to market conditions a difficult pill for some sellers to swallow?

The number of homes on the market soared after the New Year. To get buyers’ attention:

Price competitively and in line with recent sales and market conditions.
Have an appealing, clean, uncluttered home.
Use plenty of photos and text to showcase why a buyer should visit your property.
Ensure that your broker markets your property through cooperating brokers, [...]

What’s your opinion of real estate professionals? How about REALTORS®? Did you know there’s a difference?